Work At Home, Go Bankrupt At Home

by Isaiah Hull

If you want to make an income working at home, you must
mitigate spending in the early phases of your venture.
If you spend wildly, you will never make money. I can
promise you this now. It happens to almost every person who
tries to work at home; it happened to me and I nearly
gave up, too.

It is fine to set high goals, but you must always be
grounded in reality when it comes to your finances. You
must record your expenses and you must plan to buy certain
products and services at certain times. If you do not do
this, you will overspend and you will fail. This is
a guarantee.

Part of careful budgeting is learning what works and what
does not. As annoying as it may seem, it is essential to
track the results you get from all forms of advertising
and expenses. You will have to slash unnecessary costs
if you want to succeed. If your marketing plan is to
purchase every opportunity you find, operate on a high
out-of-pocket budget, and hope that throwing money
at your problems will fix them, you wont see the results
you want. You will slowly lose money and confidence.

I do not care how much money you are willing to lose:
your success will be directly related to your patience and
the economics of your business model--not an opportunity
you might happen to stumble over one day.

Patience is something you either have or will develop
quickly working at home. If you do not have the patience
to work out problems, to find the best products and
services without buying each one, and to buy only when
you need to--not when you feel the impulse--you will
waste a lot of money; however, this problem will work
itself out: either you will go broke and give up--or
you will learn to have patience.

The economics of your business model is also something
that you will shape over time and continually change.
When you begin your work at home venture, it is essential
to research your field, find the best opportunities, verify
them through multiple independent sources, and then create
a budget based on your best judgment. It is also essential
to be selective when you alter your budget. When you find
an opportunity or service that you really want to purchase,
write it down. Find more information about it. Come back to
it at the start of your new budget period.

If you want to get the highest possible consistent return
on your spending, you must maintain a focused, dynamic
budget. This means you must concentrate your spending,
track the results, and then be ready to change your budget
for the next period to reflect your analysis of the
previous month*s outcomes. Do not shift from service to
service during the same budget period. This will only
obscure your results.

Joining a group of people who want to work at home is
one of the best ways to artificially shape your budget
model faster. You can find hundreds of these groups on the
Internet alone; and in each of these groups, you will find
people who are more experienced than you are, have tried
some of the things you plan to try, and can tell you what
has and has not worked for them. If you want to maximize
your spending, this is one of the best places to start.
There is no better resource than real, live people, who
have succeeded in your field and are willing to tell you
how you can do the same.

In summary, working at home offers opportunity-seekers
flexibility and unlimited income possibilities, but
if you do not apply the correct business model to control
your spending, your statistical chance of succeeding is
low. If you do the following things, you will succeed:

Keep a dynamic, focused budget.

Remain patient.

Track your results.

Find mentors and friends in your field to help you.

Remember: You can go broke at home or you can retire
early working from home. The choice is yours: be patient
and economical and you will see results; or act spuriously
and reap failure.

Tell others aboutthis page:

facebook twitter reddit google+

About the Author

Isaiah Hull is the CEO of Work At Home Right Now,
the Publisher of two internet income newsletters,
team leader of several affiliate programs, and a
widely-published ebusiness tips writer. On 11/10/04,
Hull released a revolutionary, intensive eBusiness
training course: http://www.workathomerightnow.net